Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.72%
adds when stocks drop
when a holding falls −10%+
Middle response
+6.05%
steady accumulation
Rally response
+5.12%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QQQInvesco QQQ Trust, Serie | $414M | 2.7% | — | 6.5 yr |
| VONGVanguard Russell 1000 Gr | $329M | 2.1% | — | 6.3 yr |
| AAPLApple Inc. | $297M | 1.9% | +14.7% | 6.5 yr |
| XLKState Street Technology | $278M | 1.8% | — | 6.5 yr |
| SPYVState Street SPDR Portfo | $278M | 1.8% | — | 6.5 yr |
| IGMiShares Expanded Tech Se | $277M | 1.8% | — | 6.5 yr |
| VGTVanguard Information Tec | $275M | 1.8% | — | 6.5 yr |
| NVDANVIDIA Corporation | $262M | 1.7% | +60.9% | 6.5 yr |
| VUGVanguard Growth ETF | $234M | 1.5% | — | 6.5 yr |
| IVViShares Core S&P 500 ETF | $218M | 1.4% | — | 6.5 yr |
| SPYState Street SPDR S&P 50 | $204M | 1.3% | +17.6% | 6.5 yr |
| MSFTMicrosoft Corporation | $199M | 1.3% | -0.6% | 6.5 yr |
| SPYGState Street SPDR Portfo | $198M | 1.3% | — | 6.5 yr |
| VCITVanguard Intermediate-Te | $186M | 1.2% | — | 6.5 yr |
| AMZNAmazon.com, Inc. | $182M | 1.2% | +9.5% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management68.0%-10.2pp$10.52B
Asset Management - Bonds5.0%+0.7pp$768M
Semiconductors3.0%+1.6pp$468M
Asset Management - Income2.3%+1.1pp$349M
Internet Content & Information2.1%+0.9pp$329M
Software - Infrastructure2.0%+0.9pp$303M
Consumer Electronics1.9%+0.6pp$297M
Specialty Retail1.3%+0.3pp$206M
Drug Manufacturers - General1.2%+0.4pp$185M
Banks - Diversified0.9%+0.2pp$132M
Country
US98.6%-0.5pp
Unknown0.3%+0.2pp
IE0.2%+0.1pp
CA0.2%+0.1pp
GB0.1%+0.0pp
TW0.1%+0.1pp
CH0.1%+0.0pp
NL0.1%-0.0pp
Top 5: 10.3% · Top 10: 18.5% · Top 25: 32.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $95M | +0.06B | 60.9% |
| GOOG | $38M | +0.03B | 84.3% |
| SPY | $138M | +0.02B | 17.6% |
| AAPL | $139M | +0.02B | 14.7% |
| AMZN | $90M | +0.01B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $81M | -0.00B | -0.6% |
Top buys this quarter · 15
| AAPL Apple Inc. | +$75M |
| MSFT Microsoft Corporation | +$63M |
| NVDA NVIDIA Corporation | +$54M |
| AVGO Broadcom Inc. | +$44M |
| AMZN Amazon.com, Inc. | +$33M |
| WMT Walmart Inc. | +$25M |
| GOOG Alphabet Inc. | +$25M |
| JPM JPMorgan Chase & Co. | +$23M |
| JNJ Johnson & Johnson | +$22M |
| META Meta Platforms, Inc. | +$19M |
Top sells this quarter · 15
| ASML ASML Holding N.V. | −$11M |
| FTI TechnipFMC plc | −$3M |
| WPM Wheaton Precious Metals Corp. | −$3M |
| CVS CVS Health Corporation | −$3M |
| PWR Quanta Services, Inc. | −$2M |
| ABCB Ameris Bancorpexit | −$2M |
| IBKR Interactive Brokers Group, Inc | −$2M |
| SAN Banco Santander, S.A. | −$1M |
| MTSI MACOM Technology Solutions Holexit | −$1M |
| CHTR Charter Communications, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $15.47B | 1671 | +20.79% | +17.59% | +3.20% | +1.51B |
| 2025-12-31 | $14.60B | 1566 | +19.13% | +17.72% | +1.41% | +0.73B |
| 2025-09-30 | $13.56B | 1518 | +22.10% | +17.52% | +4.58% | +0.30B |
| 2025-06-30 | $12.11B | 1445 | +18.44% | +14.94% | +3.50% | +0.25B |
| 2025-03-31 | $10.51B | 1329 | +9.11% | +8.30% | +0.81% | +0.62B |
| 2024-12-31 | $10.49B | 1256 | +23.21% | +24.89% | -1.68% | -0.32B |
| 2024-09-30 | $10.31B | 1249 | +31.13% | +36.04% | -4.91% | +0.23B |
| 2024-06-30 | $9.49B | 1205 | +18.18% | +24.49% | -6.31% | +0.29B |
| 2024-03-31 | $8.86B | 1156 | +23.24% | +29.62% | -6.38% | +0.24B |
| 2023-12-31 | $8.09B | 1125 | +27.38% | +26.18% | +1.21% | +0.34B |
| 2023-09-30 | $6.95B | 1060 | +20.01% | +21.57% | -1.56% | +0.30B |
| 2023-06-30 | $6.94B | 1032 | +18.81% | +19.42% | -0.62% | +0.18B |
| 2023-03-31 | $6.24B | 970 | -6.82% | -7.82% | +0.99% | -0.08B |
| 2022-12-31 | $5.74B | 894 | -19.28% | -18.17% | -1.10% | +0.37B |
| 2022-09-30 | $5.11B | 863 | -14.65% | -15.51% | +0.86% | +0.15B |
| 2022-06-30 | $5.24B | 851 | -9.51% | -10.62% | +1.11% | +0.05B |